By Jason Zweig | Aug. 21, 2018 3:36 p.m. ET

In communications distributed to its staff on Monday, the brokerage said money-market funds “will no longer be available as a sweep choice for most new accounts.” Instead, clients’ uninvested cash will be automatically routed to bank deposits. For six months, these so-called bank sweep accounts will earn a “transitional yield” equal to that on a money-market fund; after May 2019, the yields on those deposits are likely to drop to market rates below that level….